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The City 5, San Francisco 4, Portland 2, Fresno 2, Washington 1, California 1, China 1, America 1, Steen 1, Monique Moyer 1, Burton 1, Us 1, United States 1, City 1, At&t 1, Ut 1, Imi 1, United 1, Piers 1, The Port 1,
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  SFGTV    [untitled]  

    December 24, 2012
    3:00 - 3:30am PST  

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conversation with david mad way about different option whether redevelopment would be an appropriate tool along the water front or if there was another option and david mad way who's here, is former general counsel of the san francisco redevelopment agency and now works at shepherdmony and point out an object cures area in the california code and so it was really david's idea that we have been plowing over the last eight years and i want to thank mr. mad way for that brilliant stroke we are the ones who make sense -- david you know the poorliment tree rules better than anyone. come to the mic afterwards so
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it can be recorded. >> thank you joovment elane knobs port staff and as david said this is putting the law in place and geek getting the mechanism to secure infrastructure financing proceeds and a lot of credit goes to bran son and many of my preed says cor and is monique moyer that has gotten us to this point and right now we are looking to the establish a policy with the board of supervisors that gives us a -- to support this before looking at any particular project. we have present proposed policy to the capital planning committee on november 19th and we will go back for action this month and we are looking to the bring the city policy to the board of interferes in early 2013 and so as brad said i'll go over the
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policy and then brad will go over three major projects that we are proposing the use of i f d for. and so the port commission is very well aware in 1969, we got our 54 piers nine react activated and we have an extraordinarily large deferred maintenance problem in the magnitude of $2.2 million and what the port earned as an enterprise is not enough to deal with the assets and the defined problems and so one of our major strategies that the port has initiated in the last decade is to find other source and is so we can be successful leveraging the important assets for the future and so this chart really shows all of the growth of all
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of these other source that are helping ut to solve our problems and the joe bonds that we just spoke of have been important for park improvementings and i s d which, is in the bright blue is a major proposal to help us build critical flay structure for areas that otherwise, we could not afford. and as a commission m o there is an exhibit a in here in your pact that provides much more detail and there is a lot of detail under pinning this expert aba 18 that allowed united states to take the value from the sea walls for the piers a b 1199 that is the pier 70 state chair which allows us to utilize it's city's share of i f d but the state's fair for pier 70 and
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trust sexual deflation and 330 and two recent pieces for america's cub a b-6 64 and a b two twoan 599 and brad is much better equipment to answer legislation on this and finances district proceeds are basically tax increpts that is baseline established and growth above that baseline of what pedestrian interest tax and so it's similar to increment financing and these are at the growth and tax of project's cause that otherwise go to the taxing entities pribblely the generally fund and we hold those proceeds to repay the investment and infrastructure. so no, to the proposed policy. there has been a long tradition both in the
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charter and in the burton act that the harbor fund is a self supporting the port is a self supporting enterprise and the city obviously, we pay for that was we purchase from the city and we want to maintain a balance so that the 50 city is not subsidizing the hash fund for our activities and the general services that we require from the city and so we have under taken a nexxus analysis in 2004 and eight that looks at the balance of payment and the next is the methodology that ports with long term leases where the tenants pay tax they pay ampleel tax to be provided these services like any other taxpayer and so the nexxus analysis looks at the unleased land and infrastructure on property and compares the cost of services to our work order bundle and that
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has shown in 2004 and 2,008 that we are in balance and so since our profile proposal something taking least lands and capturing taxes for city services we are looking to find a new way and methodology to make sure that the city is whole throughout the life of the prompt. it will -- imi'll take a bit more about that but we are looking to mayor sure hat city is net positive from the development project and that we can ensure that over title through a time of flex type of nexxus analysis: so we are proposing to perform an i f d property and establish areas encompassing each project site. consistent with i s d law, the i s d proceeds would be used for these list of uses here pierces piers
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and sea level rise and typewriterle remediation, hillic rehabilitation and port maritime. so, we are proposing this criteria for the city as it looks to see the request for i s d is a good purpose as minimum criteria. so, first, the proposed i f d would be on portland. if there is a case of annexing none portland it will be looked at on a case by case analysis and this would be eight washington or c well lot 851 is a good example of this type of situation where there is parcel and annexing into district and schedule is a adopting an infrastructure financing plan and it's a two step process that starts with inferring the
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district and then chem back with the infrastructure financing plan and actually specific the improvements from that district and priority improvements water front district, consistent with i f d in the investment would be consistent with the law obviously, the water front plan and our own capital plan and economic benefit we would always produce analysis for the policy makers that show the total tax revenues to the general opportunity fund and other economic development besides board of trustees and that way the city can review the position of general fund in making this contribution and where the state and city -- where there is state and city matching where we can -- secure the state chair for pier 70, we would make it a priority and the amount of allocated would be 65 clients
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and up to 90 cents in pier 70 and access incementation is the amount not needed from the district need today pate necessary infrastructure outside of the bonding period of 30 years so from year 30 to year 45 it would be up to policy makers to decide where to allocate those proceeds either back to the city's general fund or to improve the sea wall if the port issues revenue bonds, we would request that service coverage at this point we are not project proposing the issue gets for the disproment that i will describe in just a moment and we will as part of the i f d identifyfunding sowter for maintenance and this is an ongoing concern for the city is the cost of maintenance the pure cost of ownership is not always described up front and so this is an important point for the
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city. in terms of the port i f d formation, we are -- the city has through resolution done the infrastructure financing district staff city staff is developing the plans for each project area which will be separate appendixes and we are asking that the d p w and s f p review all of the horizontal extrusive proposal and is third party estimates that were very sure that she is shes have good very muchs prior to city action and we want the capital planning committee do this extrusive make recommendations to the full board for each i f d a pen appendix.
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now, obviously, this is an he is wees one to prove for the sale scale of these project and to leverage none city resource and is continue best practices of city participation. so, this is graphic just shows the a investment post the adoption of the water front land use plan and you can see there are seven scene million dollars of new value since 2,000 and that is for the exploretory and at&t park, pier one and disprawn if we have the crews terminal project for one 10 million or $827 million of investments since the adoption of the water front plan. the three project that weave i'll that brad will be talking about in a moment is at a much larger scale in these three proposed project and you will see as you look at the
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project that there is about 400 and $10 million of planned i f d proceeds for infrastructure costs in this project and so this policy is really going to attract huge -- a much larger amount of private investment than we have seen since the adoption of the private land units lan and to pay for critical city owned land use structure and with that, brad will talk you through the project. >> thank you elane. and we do think that this is potentially a game changer for the port. i want to make one minor correction. we have not calculated yet the amount of i f d ass that are captured in pier 70 and it can be the location that we capture the tax increment and it could be that these projects will reach a
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billion dollars of investment from the i f d actual and that is 3 billion in private investment and you plus up to a billion dollar in public investment. each of the project the term sheets for these projects are expected to be -- by the port commission by 2013 and then off to the board of supervisors for term sheet consideration and possible endorsement and then each of the project would be subject to their own set of transaction document and is so these are proposals only just for the public's benefit. lot 337 and pier 48 in the port's exclusive
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negotiating agreement with sea wall lot sociabilities affiliated with the san francisco giant, this slide shows is that the area that we are conceiving of the certainty lot a in mission bay was previously a from the period between 1905 and fine 26 it started to be used for what he will use and that is one of the things that drove the filming along the san francisco water front. this is the film today and you will see it in yellow and it really stands out as one of the areas that needs attention in mission bay. as the as you heard so eloquently from david port staff isel
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contempt plating the develop of this park and the earn part of eastern part of city was cut off from bay access and so this is one of the a pennities that we strive to provide and so this development is contemporary plating 3.5 million square feet of mixed use development and unto a thousand unit of residential and up to one .7 million square feet of commercial office space with ground floor retail and approximately 2800 to 3,000 parking spaces with over 8pm acres of parking space and the proposed plan to to be flexible and this is a phase development that will happen as early as 20 scene, 207 in the initial phase
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and it's hard to tell now what the right mix of office vs. residential is so the zone something proposed to be flexible to respond to different market conditions. this china basin park proposals is one of the reasons why the giants the sea well lot 337 llc., proposal is receiving such positive tension it's because of the attention they have given to the design of this water front open space. it would be 5-acres the costs are high. we are looking at entirely newue tillity infrastructure new streets, sidewalks sidewalks and park locate and is improvements to pier 48 currently estimates at over $2 million in current $2,012 and this infrastructure is really needed to unlock the value of this site for the port
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and for development. very significant this would be an entirely new city neighborhood with significant economic development for the city as a whole and 5,000 construction jobs and over 7,000 permanent jobs on the site and 10,000 jobs regionally with up to 2,000 new residents so erail mentioned the fiscal analysis that we would do through fiscal feasiblable report to the board of supervisors prior to environmental review and the draft fiscal feasiblability for this probability indicates a 9 million-dollar tax benefit to the city after the cost of the city services and this is after netting out the property tax increment that we would capture through the i f b and so this is really coming from gross receipts tax and sales tax and
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other tacks that would continue to flow to the general fund. and elane mentioned the idea of excess tax increments and after the project needs are paid there is up to one $.6 billion paid in excess taxes generated from this site. pier 70 is a bit more complicated in that it's divided into a number of districts and a master plan starting in 2,007 and the commission chose to let out pourings of this site in sort-of a segmented manner and the water personal property site is the site under contract for a city development or in development is managing the rehabilitation of the historic buildings along 20th street, we have our ship repair under least and you have heard david talk about cran copark. four city's
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this the process of doing due diligence for the property right now and they are concerned that it's sea level rise and the city's team will be consulting with the chief hash engine here about raising the grade of this site so it's not subject to innonedation in the future. very interesting engineering constraints at pier 70 there were slip ways built by the federal government to facility ship repairs and it's difficult to buildbled on those and that is blue line that you see here and that is demarks the only shore line and everything bay ward from that line requires pile support and there is a risk of lateral spread and major earthquake and to there is a need to reinforce the shore line so it doesn't slough off in the
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bay and an earthquake. and these are the water lines that are out of the known water lines that are out of the site and for city proposes to install entirely new water infrastructure at the site and the same goes for waist water form water facilities and all of it needs to be relace and had they are looking at one $56 million of at the moment infrastructure cost and is potentially an additional $90 million for historic rehabilitation costs at the site and so finally, the warriors project in piers 30 and 32 and a lot of it -- in the public eye and the site is currently-15
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-acre and the pier is near it is end of life and we have some road restriction on the site and limiting use and if we were just to contemporary plate we moving this, it would cost $45 million. and the warriors have hired a team of a commons who have gone to produce conceptual design for this site and they are looking at multipurpose venues for basket ball games, public concerts, convention use, with 60% of the site dedicate to open space and a combination of retail uses and practice courts and parking covering the rest of the site and this is the concept of what it would look like and this is being published in the paper and so the major a major
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terms is that the ports would finances these improvements and they would look up to 120 million here with a 13% of capital and the city would repay that private investment and publicly owned pier through rim credit and the price of c o l lot 33 and that is an increment from an i f d and those would be the soles and again, almost a billion dollar on it's own and generates more than 2500 construction jobs and 1700 jobs with great fiscal board of trustees to the city of posh 19.4 million in total tax receipts. so that conclude the presentation as we are scheduled go back to the committee to
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seek a vote on this policy later in december, the plan if the commission has no other changes that we should contemporary plate and incorporate in the policy would be to then bring the policy to the board of supervisors for a vote by the board and we think at the staff level it's very important for the capital planning committee and the board of supervisors to establish this before the individual projects propose the i f d and so that concludes our presentation any questions we are available to answer them. >> is there any public comment on this item? seeing none ... thank you for all of the work that has gone into this and for explaining what one of the very difficult concepts so well and so thank you, i think it's a creative pyo to us given who has happened in
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terms of porn funding option for this prolong and so i just want to say thank you and looking forward to see iting as it shapes up. i'm very ri happy that you report and very re34 row and effort you come up here you make it simple and it's very complex and i'm understanding it and so i appreciate you making it simple so we can grass it so thanks. >> items four a requests to execute an amendment to the actech tour and to the joint vek tune of b as architect and follow along architecture in association with bar knell low and to increase the amount of contract to in $9,950,000 not to compete $97,718 which consists
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of an increase for phase two project construction administration service and is added services for pier 27 and james terminal and northeast project and 'em bark dare row on lumbar street and expend the term to december 2014 and request authorization to execute an amendment to general amendment contract and construction expect. to company. from steen 19,000 to an amount not to compete 100,880,000 and one $62 and furthermore increase the contractamount and if needed to unanticipated contingencies for a total authorization and four in this action thoughts and 200 to fund the phase two project
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construction and expend the project to december 312014 and execute an amendment of understanding with the san francisco department of public workers to increase the millimeter o u funding from the existing not to the exceed $7,078,267 to an amount not to compete $9,714,075 which consists of one million 936,228 there is for phase two for project management service and is to extent the prjt to december 31 st. december 14 i. long . >> judge good evening commissioners and executive directors my name is kim and
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project director and i'll summarize the two scope and accomplish this work. the elane forks and who will present the budget and funding for bill work for the cruise terminal with the removal of the shore power -- on pier 27 she had -- constructionle steel made in the united states and fabricated in fresno commenced in early june and was topped off in joule and since that time the building envelope --. >> many would you please come put the slides up? sorry kim but we are standing at me amy and eileen ...
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. >> so with the short power system of the stem litigation of the short power she had and 50 tons of the structured she had fact indicate indicated in the united states in fresno and commenced in june and topped off in joule and since that time the building developed has been completed with the exception of the lobbienharborsure and the shore power system relocatedded one. second dare uses for this is special perspective it takes into consideration great views from the site and this is a picture of the site from the 'em bark dare row looking up north you see [spelling?] at the top right the second story and to the right is the area that will become the lobby and this is a
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shot of the lobby entrance and and is a stairway parallel to that and is an escalator and behind that is a elevator and it will take you into the second floor and passengers will process through kicking and castles. in his another example of the views from the ore other side of the building and refuse side bay bridge and baggage hall and there will be glass or roll-up doors similar to what you see in a lot of fire stations and this is a view from the second floor toward the 'em bark dare row [spelling?] and this is making it a great effect